Hassle-free property backed overdraft for meeting all business needs
The MPower programme is a quick and hassle-free solution for all business units. Offering both Property Backed Overdraft and Term Loan facilities to various businesses including MSME units engaged in manufacturing, trade as well as services activities.
The program is available to all Business units including MSME units engaged in manufacturing, trade and services activities. Limits under this program can be clubbed with any other Program of Commercial Banking Group (restricted to a combined limit of Rs. 10 Cr.)
Turnover - Upto Rs. 75 Cr.
Limits - Upto Rs. 10 Cr. (ECLGS Limits are over and above the limits specified)
Product Offerings - Loan Against Property, OD against Property, Dropline OD, Property Purchase
Collateral - Residential, Commercial and Industrial property acceptable
Key Documents Required* -
- Latest 12-month bank statements
- Latest ITR
- Last 3 years Financial Statements
- KYC documents and collateral details
* Additional documents may be requested based on Axis Bank Policies
- For allocation funds towards general business purposes; including repairs, renovation, extension & expansion of business, meeting working capital/shortfall in liquidity and cash flow
- Purchase of property for general business purpose or for the occupancy of the owners / management of the borrowing unit